By Akhil Shah
OTTAWA (MNI) For the fourth month in a row, Canada’s leading
composite index was little changed in September, Statistics Canada
reported Wednesday.
The index edged down 0.1% in September to 255.3 after a flat
reading in August. The stock market and the manufacturing sector
accounted for most of the decline after 6 of 10 components registered
gains in September.
All components reported a loss in the manufacturing sector in
September. New orders retreated 0.7% after two consecutive monthly
increases of more than 3.0%. Average workweek hours also declined 0.5%
to 36.4 hrs, posting its fourth consecutive slide. A rise in finished
goods stocks, pushed the ratio of shipments to inventories lower in
September, falling to 1.90 from 1.92 in August.
The household sector advanced 1.2% in September moderating the
overall decline, with all of the components posting gains. This was the
largest monthly increase the sector recorded since spring, the agency
reported.
Furniture and appliance sales increased 0.4% as a result of
increased household demand, while sales of durable goods advanced 0.8%
in September, climbing for the third straight month.
The money supply continued its advance, growing 0.5% after posting
a 0.3% increase in August. The stock market declined 3.5% in September
and was the weakest contributor to the index along with the
manufacturing sector.
The unsmoothed composite leading indicator fell 0.7% in September
as declines in the stock market and manufacturing sector offset the
increase in the housing sector.
–Akhil Shah is a reporter with Need To Know News In Ottawa
** Market News International Ottawa **
[TOPICS: M$C$$$,MAUDS$]
